Last Updated: July 2, 2009 1:39 pm CST
featured stories
Hope Now Sees Slower Climb in Repayment Plans
HOPE NOW, the private sector alliance of mortgage servicers, non-profit counselors and investors touted 249,000 completed workout solutions for struggling borrowers in May. The figure represents a 4% decline from April. Modifications slipped 16.3% from April while repayment plans — including refinancings — rose 6.1% in May after jumping 21.45% in April, indicating at least some slowing... more»
What $21.9m Used to Buy
Come one, come all! There are bargains out there, and for the right circles, none may represent that more than East Coconut Palm Road in Boca Raton. The mansion, previously listed for $21.9m, found no buyer. So folks, it’s auction time! And the 25,000 square foot mansion may be purchased for a song, as only $250,000 is needed in earnest money. On July 11 Concierge Auctions are putting 450 East... more»
Beazer to Pay $53 Million in Mortgage Settlement
At least one home builder is still feeling the full effect of the mortgage bubble implosion — and this time, the wounds were self-inflicted. For builder Beazer Homes USA (BZH: 1.80 -1.64%), news Wednesday of a costly settlement was not the first sign of trouble out of its mortgage lending division. Beazer Homes and its mortgage origination arm Beazer Mortgage agreed to pay $5m to the US and up to $48m in contingency... more»
BofA Sees Residential Investments Feeding Greener Shoots
Economic growth in the second half of the year is expected to come in “substantially” above previous consensus, according to economic commentary this week from Bank of America/Merril Lynch analysts. Lori Helwing, an economist at BofA/Merrill Lynch, says the analysts there now expect a 2.1% slip in real gross domestic product (GDP) in 2009, 30 bps improved from the old -2.4% estimate. The US economics team also expects 2.6% growth in real... more»
Hope Now Sees Slower Climb in Repayment Plans
HOPE NOW, the private sector alliance of mortgage servicers, non-profit counselors and investors touted 249,000 completed workout solutions for struggling borrowers in May. The figure represents a 4% decline from April. Modifications slipped 16.3% from April while repayment plans — including refinancings — rose 6.1% in May after jumping 21.45% in April, indicating at least some slowing in the volume of refis rolling out of the pipeline. The... more»
recent stories
- BofA Sees Residential Investments Feeding Greener Shoots Secondary Market/Investors
- Fitch Takes Action on Older Subprime Mortgage Securitizations Secondary Market/Investors
- Beazer to Pay $53 Million in Mortgage Settlement Origination/Lending
- In This Corner: Principia Partners EVP, Mark Kahn Secondary Market/Investors
- HUD Allows 125% LTV in Home Affordable Refis Servicing/Default
- Freddie Outsources SFM Custodial Work Servicing/Default
- Weekly Mortgage Refi Applications Plunge 30% Origination/Lending
- 5% of US Mortgages Seriously Delinquent: OCC, OTC Report Servicing/Default
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- Fitch Takes Action on Older Subprime Mortgage Securitizations
- Hope Now Sees Slower Climb in Repayment Plans
- BofA Sees Residential Investments Feeding Greener Shoots
- HUD Allows 125% LTV in Home Affordable Refis
- Beazer to Pay $53 Million in Mortgage Settlement
- Home Energy Audits Optional in Cap-and-Trade Bill
- Texas Veterans Land Board Selects Mortgage Builder Loan Origination Software
- In This Corner: Principia Partners EVP, Mark Kahn
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Events
2009 Jul 09 -- 2009 Jul 10
USFN Legal Issues in Mortgage Servicing Seminar
Geared towards in-house counsel, designed to discuss current legal issues in the mortgage servicing industry and real estate finance. Closed event in Chicago, Ill.; for more information, visit www.usfn.org.
2009 Oct 04 -- 2009 Oct 05
IMN's 15th Annual ABS East
Hosted at the Foutainebleau Resort Miami Beach in Miami, FL, the theme of this year's event is "Navigating a Path to Recovery" and alludes to decisive actions by the government and industry leaders to set a course that will hopefully lead to a revived and robust US securitization market. For more information, visit www.img.org.
2009 Oct 20 -- 2009 Oct 21
RMBS: Assessing Value and Risk
This two-day course in Washington, DC will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
